Noble Corporation revealed on Wednesday that it was in advanced discussions with Shell for the Anglo-Dutch supermajor to buy out its interest in joint ventures surrounding the drillships Bully II and Bully I, freeing up the drilling contractor to market the assets globally.
The driller took a major impairment related to the expected transaction relating to the Bully II for $596 million, helping drag down the company to a loss of $445 million for the quarter.
